Sennheiser sells the consumer audio business to Sonova

Sonova, a company that makes hearing aids from Sweden, recently bought Sennheiser ‘s consumer audio business. With this deal, Sonova will enter the wireless headphones, earphone and soundbar market alongside its hearing aids.

German audio company Sennheiser sent out an announcement to find a buyer to buy its consumer audio segment in mid-February this year. Accordingly, the company is facing strong competition from rival firms, making profits much lower. They had to leave 650 employees to “rescue” themselves.

In a statement, two brothers of the Sennheiser family and co-CEO of the company, Andreas and Daniel Sennheiser, said: “Sonova is the perfect partner for Sennheiser, when the two labels share a passion for sound and commitment. about creating products of the highest quality. This is a great foundation for future success. “

Sonova said it will continue to sell and create new products under the Sennheiser brand. Sonova CEO Arnd Kaldowski said: “Combining Sonova’s hearing experiences and Sennheiser’s ability to create quality audio equipment, we will be able to expand the product range for anyone. What hearing needs (both listening to music and hearing aids). “

The deal is worth 200 million euros, and Sennheiser’s annual revenue is 250 million euros. Currently, the sale will have to wait for approval from the government, Sonovo said that all will be completed in the second half of this year.